Investors in Nasdaq (NASDAQ:NDAQ) Have Seen Notable Returns of 89% Over the Past Five Years
Investors in Nasdaq (NASDAQ:NDAQ) Have Seen Notable Returns of 89% Over the Past Five Years
If you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share price move up more than the market average. Unfortunately for shareholders, while the Nasdaq, Inc. (NASDAQ:NDAQ) share price is up 75% in the last five years, that's less than the market return. However, more recent buyers should be happy with the increase of 20% over the last year.
如果您持有一只股票并长期持有,您希望能获利。更好的是,您希望股票价格的涨幅超过市场平均水平。不幸的是,对于股东来说,纳斯达克,Inc.(NASDAQ:NDAQ)股价在过去五年中上涨了75%,但低于市场回报。然而,最近几年的买家应该对过去一年的增长20%感到满意。
So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns.
因此,让我们评估过去5年的基本面,看看它们是否和股东的回报率相符。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
市场有时毫无疑问是有效的,但股票价格并不总是反映基本业务表现。一种有缺陷但合理的方法是比较每股收益(EPS)和股票价格,以评估围绕公司的情绪如何变化。
During five years of share price growth, Nasdaq achieved compound earnings per share (EPS) growth of 10% per year. This EPS growth is reasonably close to the 12% average annual increase in the share price. Therefore one could conclude that sentiment towards the shares hasn't morphed very much. Rather, the share price has approximately tracked EPS growth.
在股价增长的五年期间,纳斯达克的每股收益增长了10%。 这种每股收益增长率与股价的平均年增长率12%相当接近。因此,人们可以得出结论,股票的情绪并没有发生很大的变化。相反,股价大约跟踪了每股收益的增长。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
该公司的每股收益(随时间的推移)如下图所示(单击可查看确切数字)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240704/0-1e46e66f2ce3b5e1b4e85e3250d3a035-0-c943ac5eaa44abeb778e792f49e2c2de.png/big)
We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. It might be well worthwhile taking a look at our free report on Nasdaq's earnings, revenue and cash flow.
我们喜欢看到内部人在过去十二个月内购买股票。即便如此,未来的盈利对于当前股东赚钱来说更加重要。可能值得看一下我们的免费报告,该报告涵盖了纳斯达克的盈利,营业收入和现金流量。
What About Dividends?
那么分红怎么样呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Nasdaq the TSR over the last 5 years was 89%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
考虑到任何给定股票的总股东回报率以及股票价格回报率非常重要。TSR是一种回报率计算,它考虑了现金股息的价值(假设任何收到的股息都被再投资)以及任何折扣后的增资和分拆的计算价值。可以说,TSR给出了一个更全面的股票回报图像。我们注意到,对于纳斯达克,过去5年的TSR为89%,这比上述股票价格回报率更好。毫无疑问,股息支付在很大程度上解释了这种差异!
A Different Perspective
不同的观点
Nasdaq shareholders have received returns of 22% over twelve months (even including dividends), which isn't far from the general market return. That gain looks pretty satisfying, and it is even better than the five-year TSR of 14% per year. It is possible that management foresight will bring growth well into the future, even if the share price slows down. It's always interesting to track share price performance over the longer term. But to understand Nasdaq better, we need to consider many other factors. Even so, be aware that Nasdaq is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored...
纳斯达克股东在12个月内获得了22%的回报(包括股息),这与一般市场回报并不相差太远。看起来这个收益看起来令人满意,甚至优于每年14%的五年TSR。管理层的远见也许会带来未来的增长,即使股价放缓。长期跟踪股价表现总是很有趣的。但是为了更好地理解纳斯达克,我们需要考虑其他许多因素。即便如此,请注意,纳斯达克在我们的投资分析中显示了2个警告标志,并且其中1个不应被忽略......
Nasdaq is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket.
纳斯达克并不是唯一一支内部人购买的股票。对于那些喜欢发掘更小众的公司的人,最近有内部人购买的成长型公司的免费列表可能是一个不错的选择。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者,发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。